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Zawya
a day ago
- Business
- Zawya
Egypt: GAFI to begin operating 4 new public free zones by end of 2026
Arab Finance: The General Authority for Investment and Free Zones (GAFI) will begin operating four new public free zones by the end of 2026, according to CEO Hossam Heiba. The announcement followed an expanded meeting between GAFI and investors in public free zones to develop joint plans for enhancing the zones' operating mechanisms in line with the Ministry of Investment and Foreign Trade's 'Investment for Export' plan. The move comes after the Ministerial Group for Industrial Development, led by Kamel El Wazir, deputy prime minister for industrial development and minister of industry and transport, approved the authority's plan to establish new public free zones in 10th of Ramadan City, New October City, New Borg El Arab City, and New El Alamein City. The decision was driven by high demand, with occupancy rates in the nine existing public free zones reaching 95%. Heiba said that the production of the new zones will be directed entirely towards export to support the Ministry's target of $140 billion in exports by 2030. He explained that the approach will prevent competition with local investment institutions, reinforce fair investment principles, and maximize the benefits of incentive policies. The zones will also prioritize green transformation, environmental compliance, and the development of strategies aimed at foreign markets. GAFI is working with the New Urban Communities Authority (NUCA) to expedite the development of the new zones to meet growing industrial investment demand. In parallel, discussions are underway to activate three more public free zones, which would double the total number to 16. During the meeting, Heiba and the investors agreed to form a working group with representatives from all industrial sectors to improve the operating mechanisms of public free zones and advance the authority's objectives.
Zawya
7 days ago
- Business
- Zawya
Egypt approves establishment of new public free zones in 4 cities
Arab Finance: The Ministerial Group for Industrial Development has approved the establishment of new public free zones in 10th of Ramadan City, New October City, New Borg El Arab City, and New El Alamein City, introducing new regulations to protect local industry and ensure fair competition, as per a statement. The decision came during the group's 28th meeting, chaired by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport. Under the new controls, factories in these zones will operate solely for export, with exceptions allowed only in limited cases upon the group's approval. Establishing factories under the private free zone system will require prior clearance, and production entering the local market will be restricted. Energy allocations will be charged at global prices without subsidies. The meeting also addressed complaints from manufacturers of automotive glass, billets, and sheet iron regarding customs distortions and unequal export support. El-Wazir directed the Ministry of Investment and Foreign Trade, in coordination with the Ministry of Finance and the Central Bank of Egypt (CBE), to study measures to correct these issues and support domestic products. Ceramic manufacturers' requests to reschedule debts to the Ministry of Petroleum were discussed, with agreement to consider repayment plans at reasonable interest rates and to extend an existing initiative allowing government agencies to settle debts through procurement. The Consumer Protection Agency reported enforcement campaigns against warehouses selling imported used electrical appliances and violations involving energy efficiency labels. El-Wazir commended the agency's role in market regulation. The meeting reviewed a leasing proposal from China's Handsome Textiles for a tailoring factory at Misr Spinning and Weaving Company in El-Mahalla El-Kubra. El Wazir stressed ensuring rental terms reflect the asset's value while promoting public–private partnerships to boost the spinning and weaving sector. Also discussed was a financing proposal from the Ministry of Planning, in coordination with the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund, to support green transformation in industries such as mining, fertilizers, and cement. The program offers concessional financing and technical support to the private sector without financial burdens on the government, aiming to accelerate decarbonization and strengthen Egypt's position as a green energy partner for Europe. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
